Terms of Business

These Terms of Business (the ʻTermsʼ) set out the basis on which DFP will provide business services

to you as a client of DFP.

1. INTRODUCTION AND AUTHORISED STATUS

1.1 This is an important document as it forms part of the contract between you and DFP and you should read and ensure that you understand the contents. If there is any part of this document that you do not understand, you should contact us accordingly.

1.2 The full name and address of DFP and communication details are set out on the final page of this document.

1.3 Docal Ltd trading as DFP is regulated by the Central Bank of Ireland and is authorised as an Insurance Intermediary registered under the European Communities (Insurance Mediation) Regulations 2005 (as amended) and as an Authorised Advisor under the Investment Intermediaries Act 1995 (as amended). Copies of our regulatory authorisations are available on request. Our authorisations can be verified by contacting the Central Bank of Ireland on 1890 77 77 77 or alternatively on the

Central Bankʼs website at www.centralbank.ie.

2. CODES OF CONDUCT

We are subject to the Central Bankʼs Consumer Protection Code 2012, the Minimum Competency Code, and the Fitness &Probity Standards, which offer protection to consumers. These codes may be found on the Central Bankʼs website

www.centralbank.ie.

3.OUR SERVICES

3.1 The services which DFP is authorised to provide are:

(i) Advising you in relation to the nature of each of the products set out below and advising you as to which product is suitable for your needs;

(ii)Identifying and selecting a suitable product producer;

(iii)Receiving and transmitting orders on your behalf for a product(s) to one or more product producers

3.2 The products for which DFP provide advice are insurance policies, tracker bonds, PRSAʼs, bank deposits, collective investments, and listed bonds and shares. Life insurance policies include life cover, serious illness cover, Permanent Health Insurance cover, pensions, investments and savings. DFP has written letters of appointment on file for each appointment.

4. FAIR ANALYSIS

4.1 We offer advice on a fair analysis basis in relation to insurance policies, tracker bonds, PRSAʼs and bank deposits. This means that we will research the market and recommend the products that are most suitable to your needs and requirements. We will also recommend a suitable product producer (s) and on receipt of your instructions we will transmit orders on your behalf. While DFP does not advise specifically on shares and bonds, we will refer you to a relevant stockbroker who can assist with your requirements.

4.2 The concept of fair analysis is derived from the Insurance Mediation Directive. It describes the extent of choice of products and providers offered by an intermediary with a particular category of life assurance, general insurance, mortgages, and/or specialist area. The number of contracts and providers considered must be sufficiently large to enable an intermediary to recommend a product that would be adequate to meet a clientʼs needs. The number of providers that constitutes ʻsufficiently largeʼ will vary depending on the number of providers operating in the market for a particular product or service and their relative importance in and share of that market. The extent of fair analysis must be such that could be reasonably expected of a professional conducting business, taking into account the accessibility of information and product placement to intermediaries and the cost of such search. In order to ensure that the number of contracts and providers is sufficiently large to constitute a fair analysis of the market, we will consider the following criteria;
the needs of the customer,
the size of the customer order,
the number of providers in the market that deal with brokers,
the market share of each of those providers,
the number of relevant products available from each provider
the availability of information about the products
The quality of the product and service provided by the provider,
cost, and
any other relevant consideration

4.3 DFP does not have a ʻtiedʼ relationship with any institution which might impair our ability to provide advice on an impartial and independent basis.

4.4 We provide advice on a limited analysis basis in relation to collective investments and listed bonds and shares by way of referrals to Stockbrokers. This means providing services on the basis of a limited number of contracts and product producers available on the market.

5. DUTY OF DISCLOSURE

It is your responsibility to provide complete and accurate information when arranging an insurance policy. Failure to disclose material information to a Product Producer could invalidate your insurance cover. A ʻmaterial factʼ is a fact so important that its disclosure could change the decision of a Product Producer in underwriting a policy, determining a premium or in settling a loss. You should be aware that where a policy is incepted following the completion of a proposal form or on a ʻstatement of factʼ basis, we assume that the client has checked the accuracy of all information provided.

6. FEES AND CHARGES

6.1 DFP may receive commission and other payments from the product producers to whom orders are transmitted. Where we receive recurring commission, this forms part of the remuneration for initial advice provided. Where appropriate, a product information document will be provided to you in relation to certain insurance and pension products. In respect of other types of investments, details of commission payments will be provided to you separately. We may receive additional remuneration from product producers based on the volume of business placed. We may also receive renewal indexation or trail commissions while your policy remains in force. All of these payments contribute to the overall cost of running our business and providing you with service on an ongoing basis.

6.2 DFP may also charge you a fee for the services provided. In particular, if we arrange a product for you with a product producer with whom we do not hold an appointment in writing then we will charge you a fee for our services. This fee will reflect the average level of commissions payable by other product producers for similar types of products. If we do this we will provide you with a written estimate of this in advance of providing any business service.

7. CLIENT MONEY

We do not hold money received in the course of providing investment services to our clients. Any money which we receive on your behalf will be forwarded to you or a named third party on your instructions. Any cheques or bank drafts should be made payable to a third party provider as we are not authorised to hold client money. A S.30 receipt will be issued in relation to all monies received pursuant to Section 30 of the Investment Intermediaries Act 1995.

8. CONFLICTS OF INTEREST

It is the policy of DFP to avoid any conflict of interest when providing business services to its clients. However, where an unavoidable conflict may arise we will advise you of this in writing before proceeding to provide any business service. If you have not been advised of any such conflict you are entitled to assume that none arises. You agree that we do not have a duty to disclose any matter which comes to our notice in the course of our business if doing so would constitute a breach of duty owed to other persons.

9. DEFAULT ON PAYMENTS BY CLIENTS

DFP will, if necessary, exercise its legal rights to receive any payments due to it from clients for business services provided by it and, to be reimbursed for any value obtained by DFP for clients arising from payments by DFP on behalf of clients who subsequently default in any payment due to DFP.

Product producers may withdraw benefits or cover on default of any payments due under any products arranged for your benefit. Details of these provisions will be included in your product terms and conditions.

10. COMPLAINTS

Any complaint that you may have in relation to the business services provided should be made in writing to DFP outlining the nature of your complaint. Complaints will be recorded by us. Any such complaint will be acknowledged within 5 days. The complaint will be fully investigated by DFP and a full response will be provided to you. A written update will be issued to you every 20 days by a nominated person within DFP while the complaint is ongoing. We will provide you with a comprehensive response not later than 40 days from receipt of your complaint. In the event that you remain dissatisfied with the firms handling and response to your complaint you are entitled to refer your complaint to the Financial Services

Ombudsman or Pensions Ombudsman.

11. INVESTOR COMPENSATION SCHEME

DFP is a member of the Investor Compensation Scheme operated by the Investor Compensation Company Ltd. The Investor Compensation Act 1998 provides for the establishment of a compensation scheme and the payment, in certain circumstances, of compensation to certain clients (known as eligible investors) of authorised investment firms, as defined in that Act.
The Investor Compensation Company Ltd. (ICCL) was established under the 1998 Act to operate such a compensation scheme and our firm is a member of this scheme. Compensation may be payable where money or investment instruments owed or belonging to clients and held, administered or managed by DFP cannot be returned to those clients for the time being and where there is no reasonably foreseeable opportunity of DFP being able to do so.

A right to compensation will arise only:
If the client is an eligible investor as defined in the Act; and
If it transpires that DFP is not in a position to return client money or investment instruments owned or – belonging to the clients of DFP; and To the extent that the clientʼs loss is recognised for the purposes of the Act.

Where an entitlement to compensation is established, the compensation payable will be the lesser of:
90% of the amount of the clientʼs loss which is recognised for the purposes of the Investor Compensation Act 1998;or
Compensation of up to €20,000 (twenty thousand euro).

For further information on the Investor Compensation Scheme, contact the Investor Compensation Company Ltd. on 01 224 4955.

12. DATA PROTECTION

12. 1 DFP complies with the Data Protection Acts 1988 and 2003, as amended or re-enacted from time to time. The data which you provide to us will be held on a computer database and paper files for the purpose of arranging transactions on your behalf.

We would also like to keep you informed of various insurance, investment and any other services provided by us or associated companies with which we have a formal business arrangement, and which we think may be of interest to you. We may receive referrals from associated companies and may advise them of any transactions arranged for you. If you do not wish to receive such marketing information, please tick the relevant box on the letter attaching to these Terms.

12.2 Unless you instruct us otherwise, we may, where appropriate communicate with you and with third parties via email or by other electronic means. The recipient is responsible for virus checking emails and any attachments.

12.3 With electronic communication there is a risk of non-receipt, delayed receipt, inadvertent misdirection or interception by third parties. We use software to reduce the risk of viruses being transmitted through emails or electronic storage devices.

However, electronic communication is not totally secure and we cannot be held responsible for loss caused by viruses nor for communications which are corrupted or altered after dispatch.

13. CLIENT IDENTIFICATION

13.1 Our firm, in accordance with the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 (as amended) is required to identify our clients for the purposes of anti-money laundering provisions. We may request from you, and retain, such information and documentation as we require for these purposes and/or make searches of appropriate databases.

13.2 Under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 we are required to;

Maintain identification procedures for all new clients; Maintain records of identification evidence; and Report, in accordance with the relevant legislation and regulations, any knowledge or suspicion of money laundering.

14. REGULAR REVIEW

It is in your best interests that you review on a regular basis the products which we have arranged for you. As your circumstances change, your needs will change. We endeavor to meet with you on a regular basis to discuss your needs in linewith your circumstances, however, you must advise us of any changes and request a review of the relevant policy so that we can ensure you are provided with up to date advice and products best suited to your needs. Failure to contact us in relation to changes in your circumstances may result in you having insufficient insurance cover and / or inappropriate investments.

15. TERMINATION OR CANCELLATION

The agreement between the parties may be terminated by either party by written notice at any time but such termination shall not affect any rights or obligations already accrued by you or DFP.

16. GOVERNING LAW

These Terms of Business shall be governed and construed in accordance with the laws of Ireland. The parties hereby submit to the exclusive jurisdiction of the courts of Ireland. Our failure to exercise any right or remedy to which we are entitled under it shall not constitute a waiver thereof.

DATE: These Terms of Business are effective from 1 February 2014 until further notice.